Mumbai | Mahindra Group chairman Anand Mahindra reacting on the 2019 Union Budget presented by Finance Minister Nirmala Sitharaman said that the finance minister was expected to hit boundaries but instead she took singles.
Expressing his views on the annual budget Mahindra said that despite the expectation of big moves to the crank-up economy, the government kept eyes firm on the long term. In a series of tweet he wrote,” Tweeted earlier that I was hoping @nsitharaman ji would ‘hit some boundaries.’ She chose instead to take steady singles & keep the run-rate moving. Despite expectations of big moves to instantly crank-up the economy she decided to keep her eye firmly on the long term.”
Tweeted earlier that I was hoping @nsitharaman ji would ‘hit some boundaries.’ She chose instead to take steady singles & keep the run-rate moving. Despite expectations of big moves to instantly crank-up the economy she decided to keep her eye firmly on the long term; (1/6)
— anand mahindra (@anandmahindra) July 5, 2019
Mahindra further termed the budget as an accumulation of seemingly unspectacular moves that’ll nudge the economy onto a trajectory toward five trillion dollar economy and an improved ‘ease of living’. He also said that the measures announced for the financial sector are indeed big moves and could lubricate the engines of the economy.
Instead of lowering GST on all cars,she aligned with the vision for mobility&incentivised only https://t.co/Ca5IhmdsSR fact, the budget is an accumulation of seemingly unspectacular moves that’ll NUDGE the economy onto a trajectory toward $5T & an improved ‘ease of living.’(2/6)
— anand mahindra (@anandmahindra) July 5, 2019
He also said that the budget is ‘bi-focal’ biased towards incentives for large-scale, new-age, FDI-funded manufacturing projects on the one hand & start-up entrepreneurs on the other.
And there is a ‘bi-focal’ bias towards incentives for large-scale, new-age, FDI-funded manufacturing projects on the one hand & start-up entrepreneurs on the other. It’s true that these two sectors have high employment generation potential (4/6)
— anand mahindra (@anandmahindra) July 5, 2019
“Increased income taxes spooked the markets. But I think the introduction of estate duty would’ve been more unnerving. Finally, the elephant analogy was most apt. If it no longer tramples on our mounds of rice, private confidence, investment and the markets will all rebound,” he added.
Increased income taxes spooked the markets.But I think the introduction of estate duty would’ve been more unnerving. Finally, the elephant analogy was most apt. If it no longer tramples on our mounds of rice, private confidence,investment AND the markets will all rebound (6/6)
— anand mahindra (@anandmahindra) July 5, 2019
He further added that the strong messages about respect for wealth-creators and easing the process of filing income tax could revive the ‘animal spirit’.
What will revive ‘animal spirits?’ If the strong messages about respect for wealth-creators is echoed by all branches of Govt. & the ‘Faceless’ e-assessment is implemented both in letter & spirit it’ll go a long way in building a true partnership with Pvt enterprise.(5/6)
— anand mahindra (@anandmahindra) July 5, 2019
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